the new “nine national regulations” in the capital market activate the m&a and restructuring market

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in recent years, with the advancement of policies and changes in the market environment, the m&a and restructuring market has significantly improved in terms of activity and transaction efficiency. the china securities regulatory commission attaches great importance to the reform of the m&a and restructuring market and has actively introduced a series of measures to inject vitality into the market.

first, while supporting the transformation and upgrading of listed companies in the direction of new productivity, the china securities regulatory commission strongly encourages them to strengthen industrial integration. promote the effective allocation of resource elements by simplifying review procedures and encouraging private equity investment funds to participate in mergers, acquisitions and reorganizations.

secondly, the china securities regulatory commission will further improve regulatory tolerance, respect market laws and economic laws, improve tolerance based on actual conditions in terms of restructuring valuation, performance commitments, horizontal competition and related transactions, and give full play to the role of the market in optimizing resource allocation.

finally, the china securities regulatory commission will actively promote the improvement of transaction efficiency in the restructuring market. support listed companies in using payment instruments such as installment issuance of shares and convertible bonds, and further improve transaction flexibility and capital utilization efficiency through installment payment of transaction consideration and installment supporting financing. at the same time, a simplified review procedure for reorganization will be established to significantly simplify the review process for qualified listed companies, shorten the review time limit, and improve the efficiency of reorganization.

the china securities regulatory commission is also actively guiding intermediaries to play their transaction matching and professional service functions to provide better services to the market and help listed companies successfully implement high-quality mergers, acquisitions and reorganizations.

background information:
the transformation and upgrading of china's economic structure is accelerating, and industrial integration and quality and efficiency improvement have become important driving forces. the china securities regulatory commission has continued to increase its efforts in reforming mergers, acquisitions and reorganizations, providing strong support for activating the mergers, acquisitions and reorganizations market.

analysis and outlook:through a series of measures, the china securities regulatory commission will promote the development of the m&a and reorganization market, effectively promote the optimal allocation of resource factors, and assist economic transformation, upgrading and development as a new engine.